Credit dealers increase investment in ops
Pressure from regulators to streamline operations processing is a factor
Credit dealers upped their annual spend on operations processing by a third in 2005, according to a new survey from data provider Markit. In a year when both the UK's Financial Services Authority and the New York Federal Reserve warned banks to resolve soaring volumes of unconfirmed trades, the survey found technology investment was up 33% to an average of $33 million per institution in 2005 compared with $25 million in 2004. Banks also upped headcount in credit operations by 25% over the course
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